https://www.theguardian.com/technology/2022/nov/09/mark-zuckerberg-meta-to-sack-11000-workers-after-revenue-collapse-facebook-instagram

Mark Zuckerberg says firm overinvested at start of Covid, adding ‘I got this wrong’

Mark Zuckerberg’s Meta is cutting 11,000 jobs, more than one in eight staff, after a disastrous collapse in revenue has left the company behind Facebook overstaffed and “inefficient”, the chief executive said in a note to staff.